The former investment banker nabbed a $1.5 million advance from Hachette Book Group this week for a memoir based on his time at the firm, according to a report in the New York Post.

A spokesperson for the publisher did not immediately respond to requests for comment, and Smith's agent Peter [sic] Fedorko declined to comment.

The Post reports that Hachette beat out Penguin for rights to Smith's debut book.

There's a little publishing inside baseball there at the end. All it means is that Smith's book was so coveted that it inspired a bidding war.

Also, I think by "Peter Fedorko" they mean "Paul Fedorko," an agent at an agency that's more of a player in TV than books. Wonder what means for Mr. Smith's future? Could there be a cameo in upcoming Muppets movie? Some kind of reality show involving furry, colorful puppets and high finance? Time will tell.

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